Northfield Bancorp, Inc. (Staten Island, NY) announces an Equity Buyback for 2,896,975 shares, representing 5% of its issued share capital.
January 30, 2014 at 03:01 am IST
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Northfield Bancorp, Inc. (Staten Island, NY) (NasdaqGS:NFBK) announced a share repurchase program. Under the program, the company will repurchase up to 2,896,975 shares, representing 5% of its outstanding shares. The company anticipates conducting such repurchases in accordance with a SEC Rule 10b5-1 trading plan.
Any repurchased shares will be held as treasury stock and will be available for general corporate purposes. The timing of the repurchases will depend on certain factors, including but not limited to, market conditions and prices, the company's liquidity and capital requirements, and alternative uses of capital.
Northfield Bancorp, Inc. is the holding company for Northfield Bank (the Bank). The Bank is a federally chartered savings bank. The Bank conducts business from its operations center located in Woodbridge, New Jersey, its home main office located at a branch in Staten Island, New York, and its 38 additional branch offices located in New York and New Jersey. The Bank's principal business consists of originating multifamily and commercial real estate loans, construction and land loans, commercial and industrial loans, and home equity loans and lines of credit. It offers a variety of deposit accounts, including certificates of deposit, passbook, statements, and money market savings accounts, transaction deposit accounts, which are Northfield Bankâs primary source of funds for its lending and investing activities. Its principal lending activity is the origination of multifamily real estate loans and other commercial real estate loans in New York, New Jersey, and eastern Pennsylvania.
NORTHFIELD BANCORP, INC. (STATEN ISLAND, NY) 
